Definition of "Owner Occupied" when 2 names are on Deed

[Kevin Branin]

Hey all you people with large pockets. I have some questions (actually my girlfriend asked it) about FHA and owner-occupied loans when 2 names are on the deed/mortgage. Let's assume this is a duplex where one unit it rented and we will be living in the other.

First of all, this is going to be my first time owning any property.  Is there a difference between whose names are on the deed and whose names are on the mortgage?  I would think the bank would keep the deed until the house is paid off...similar to taking a loan out to buy a car.  Maybe So.  Maybe not.

Second,  If only one person is living in the home whose name is on the deed/mortgage, is that still considered owner occupied?

Third, how long must we inhabit said property before we can move out and still keep FHA financing?

Thank You Thank You Thank You in advance!!!!

-Kevin (& Amanda)